Houlihan Lokey Advises Mortgage Lenders of America
Houlihan Lokey is pleased to announce that Mortgage Lenders of America (MLOA) has been acquired by Zillow Group, Inc. (NASDAQ: Z and ZG). The transaction closed on October 31, 2018.
MLOA is a national provider of online mortgage lending services. The company employs over 300 loan professionals who are trained to help buyers make informed, confident decisions about their mortgage selection—whether it's a first time home purchase, refinance or veteran product. With the ability to handle all aspects of the loan in-house, borrowers can expect a quicker, more efficient path to closing when working with MLOA. This customer-centric approach has earned MLOA industry recognition for customer satisfaction and best-in-class online lending.
Zillow Group houses a portfolio of the largest real estate and home-related brands on mobile and the web, with focus on all stages of the home lifecycle: renting, buying, selling, and financing. Zillow Group is committed to empowering consumers with unparalleled data, inspiration, and knowledge about homes, in addition to connecting them with great real estate professionals. The Zillow Group portfolio of consumer brands includes real estate and rental marketplaces Zillow®, Trulia®, StreetEasy®, HotPads®, Naked Apartments®, RealEstate.com, and Out East®.
The acquisition of MLOA will allow Zillow Group to streamline and shorten the home-buying process for consumers who purchase homes through Zillow Offers. This is consistent with Zillow Group's strategy to create a better home-buying experience by building products that ease and simplify the transaction. MLOA will continue its current line of business, offering mortgages to consumers and participating in Zillow Group's mortgage marketplace. Owning a mortgage lender will allow Zillow Group to develop new tools and partnership opportunities, including opportunities for real estate brokers with existing in-house mortgage operations or mortgage affiliates.
Houlihan Lokey served as the exclusive financial advisor to MLOA and assisted in initiating, structuring, and negotiating the transaction.
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